CTS lease numbers?
Thread Starter
Lead Lap
Joined: Apr 2006
Posts: 567
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From: Tx
CTS lease numbers?
Friend wanting to lease this car. I saw it in person and have to saw it is extremely handsome in and out.
$45,200 MSRP Selling price 41,500-1500 rebates/incentive = $40,000 selling price
they worked the numbers and he is at 750 credit. nothing up front except first months payment, taxes, and fees.
36 month lease 12,000 miles $620/month 59% residual ($23,600)
wants to know if thats a good lease?
$45,200 MSRP Selling price 41,500-1500 rebates/incentive = $40,000 selling price
they worked the numbers and he is at 750 credit. nothing up front except first months payment, taxes, and fees.
36 month lease 12,000 miles $620/month 59% residual ($23,600)
wants to know if thats a good lease?
Lexus Champion
Joined: Dec 2002
Posts: 3,474
Likes: 2
From: Tennessee
Friend wanting to lease this car. I saw it in person and have to saw it is extremely handsome in and out.
$45,200 MSRP Selling price 41,500-1500 rebates/incentive = $40,000 selling price
they worked the numbers and he is at 750 credit. nothing up front except first months payment, taxes, and fees.
36 month lease 12,000 miles $620/month 59% residual ($23,600)
wants to know if thats a good lease?
$45,200 MSRP Selling price 41,500-1500 rebates/incentive = $40,000 selling price
they worked the numbers and he is at 750 credit. nothing up front except first months payment, taxes, and fees.
36 month lease 12,000 miles $620/month 59% residual ($23,600)
wants to know if thats a good lease?
Here's the actual rates (15k miles):
http://forums.roadfly.com/forums/fin...8679983-1.html
Since they're trying to pull one over on him with the residual value, check the money factor/interest too to make sure it adds up.. it should be .00238, or 5.172%
Lexus Fanatic
Joined: Oct 2003
Posts: 94,576
Likes: 266
From: Virginia/D.C. suburbs
Threxx seems to be more of an expert on both leasing and the new CTS than I am, but just off the cuff, from what I've seen of the car and the potential market for it, I think the dealership may be underestimating the residual (market) value of it at the end on the lease period. Given the new CTS's attractiveness, the high level of interest in it, the vast improvement it is over the previous CTS, and other factors, demand is going to be high for this car, new or used. I think the average residual value is going to be more than just 59% after 3 years...and that should lower the lease payment. Generally, the lower the projected depreciation over the lease period, the lower the lease rates should be.
Lexus Fanatic
Joined: Oct 2003
Posts: 94,576
Likes: 266
From: Virginia/D.C. suburbs
Lexus Champion
Joined: Dec 2002
Posts: 3,474
Likes: 2
From: Tennessee
What's extra nice about the GM card is that unlike most other manufacturer's credit cards, GM gives you 5% back. Most other manufacturers do 1 to 2%.
The downside of the card is that there are redemption caps and limits per vehicle depending on the vehicle in question. The popular vehicles get much lower caps. For example you can redeem 3000+ card dollars on most GM truck models, but only 1000 on the Corvette.
Still - I carry an AmEx Blue Cash as my primary card, and keep the GM card as a backup for the situations where somebody doesn't take AmEx.
The sad thing is that I haven't used it on a GM vehicle since I was 18 (I'm 25 now)... but I know I will soon enough. I came very close to getting a CTS this time around, but ended up with a 335i per the wife's preferences...
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